Vimeo, Inc.

Thank you. Second, we will discuss Vimeo's outlook and future performance. These future-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or other such statements. These forward-thinking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. please refer to the earnings release we furnished to the SEC on Form 8K earlier today, which is posted on our website for additional information regarding those risks and uncertainties. We've also provided information regarding certain key metrics and our non-GAAP financial measures, including certain forward-looking measures. These should be considered in addition to and not as a substitute for or in isolation from GAAP measures. Additional information regarding Vimeo's financial performance, including reconciliations with comparable gap measures, can be found in our shareholder letter and Vimeo's filings with the SEC, as well as in supplemental information posted on the investor relations section of our website. And with that, I'll turn it over to our CEO, Philip Moyer. Philip?

Thank you for joining us for our Q1 2025 live question and answer earnings call. This April marked my one year anniversary at Vimeo. It has been an incredible journey so far, and we are thrilled that 2025 is off to a solid start. After two plus years of rightsizing our operations, we are now at a place of investing to drive growth, and the results are starting to show. Self-service bookings grew 6%, marking the first growth in three years. This is a 16-point swing from the low point for this product of a negative 10% decline in year-over-year bookings in Q2 2023. This growth in bookings has cut the rate of decline in revenue from self-serve by nearly half as well. Vimeo Enterprise revenue was up 32%, and bookings were up 13%. As our enterprise business becomes larger with more complex deals, we are increasingly focused on revenue growth and may adjust or remove some KPIs to best reflect how we're operating our business going forward. But I will note that in the first quarter, our quarterly revenue in this product was more than double the level from just two years ago. We are making calculated investments in critical areas that we believe can show return on investment for our business in a reasonably short period of time. We're already seeing our pace of innovation speed up this year and our recent releases of Vimeo Streaming, new Vimeo Central features and expanded AI for self-service is generating good momentum across our business. While the economy is unpredictable and could create risks, we remain committed to our 2025 goal of profitable growth for the full year. With that, we are looking forward to your questions.

Thank you. Before asking your questions, please remember to turn on your camera and microphone. First, we'll go with Tom Champion from Piper Sandler. Tom.